Allowed

State Bank of India v. Mr. Tera Karunakar Reddy

DRT10 Apr 2026OA/157/2026

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an Original Application filed by the State Bank of India for recovery of a personal loan amounting to Rs. 27,19,191.00 plus interest and costs against the Defendant who appeared ex parte.

What did the court decide?

Declaration of liability to pay Rs. 27,19,191.00 with interest; entitlement to proceed against Defendant's property; issue of Recovery Certificate; costs awarded.

State Bank of India versus Mr. Tera Karunakar Reddy — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - ! AT HYDERABAD DATED THIS THE loth DAY OF APRIL, 2026

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PRESENT: SRI GUMMADI cOPICHAND, PRESIDING OFFICER

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OA. No. 157 OF 2026

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Between :

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State Bank of lndia, Darussalam Branch, H.No. 5-6-3-25, Darussalam, Aghapur, Nampally, Hyderabad, Telangana - 500 001 Represented by its Branch Manager

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Applicant

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VERSUS

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Mr. Tera Karunakar Reddy, S/o. Tera Narsi Reddy, Aged 44 years, Male, Occ. Private Employee, Cognizant Technology Solutions lndia Pvt. Ltd. R/o. Plot No. 230, Road No. 6, Phase - 2, Huda Park, FCI Colony, Vanasatalipuram, Hayathnagar, Ranga Reddy District, Telangana - 500 002 frt-"-0 TI' ,F ;.^10APR2026 ; Rfu",*'oS9 \ioYspt'il

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Defendant

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(oA. No. Ls712026)

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Counsel for the parties :

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For The Applicant Ajgal Ravi Babu For the Defendant Exparte Reserved on 07.04.2026 Pronounced on 10.04.2026 Upload in website on 10.04.2026

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ORDER

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1- The Applicant Bank filed the present OA against Defendant for recovery of a total sum of Rs.27,19,19{.00 ps. (Rupees Twenty seven Lakhs Nineteen Thousand one Hundred and Ninety One Only) with contractual rate of interest @11.650/o p.a with monthly rests from 28.01.2026 till the date of reatization.

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As per the averments in the apprication, the Applicant Bank states that Defendant availed personal Loan under Xpress credit Limit of Rs.25,00,000/- repayable in 72 equated monthly installments of Rs.48,4221- with interest @11.6so/o p.a with monthly rests and executed personat Loan Agreement dated 11.01.2024 in favor of the Applicant Bank. After availing the loan facility, the delendant failed to^- comply the terms of sanction, hence nk classified the account as NpA on 11. Notice dated 20.03.2025 to the * 1 0 APH 2026 2 irq

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(oA. No. 1s7l2026)

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defendant. lnspite of several requests and demands, the defendant did not clear the outstanding. Hence this OA.

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Defendant called absent and set exparte on 07.04.2026.

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Sri. Subhani Shaik, Assistant Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to 4.6.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant bank is entitled for the claim made in the OA against the Defendant as prayed for?

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Defendant remained exparte. To substantiate the case of the Applicant Bank, AW.1, officiat of the Appticant Bank was examined and he exhibited relevant documents as Ex.A.1 to ,4.6. ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendant and hence the Applicant Bank is entifled to recover the claim made in the OA with future interest and costs.

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ffe<br>j 1o rPR ilPs :
L./ 'an rla
WM,

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(oA. No. 1s7l2026)

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ln the result, the present OA is allowed with costs, as under :

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The Defendant is liable to pay to the Applicant Bank a total sum of Rs.27,19,191.00 Ps. (Rupees Twenty Seven Lakhs Nineteen Thousand One Hundred and Ninety One Only) with contractual rate of interest @11.650/o p.a from 28.01.2026 till the date of realization.

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L The Applicant Bank is entifled to proceed against the person and properties of Defendant towards realization of the debt due.

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That Applicant Bank is entitled to the costs of the OA.

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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lssue Recovery Certificate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Dictated to the P.A., transcribed by her, conecled, signed and pronounced by me in the open court on this the 10rh day of Apr, 2026)

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ffi5

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sd/(G. GOPTCHAND) PRESIDING OFFICER

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iWffi

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Arst.^feg#trar- - a iil i,^{uv r,i';' r'a eo'}

State Bank of India v. Mr. Tera Karunakar Reddy

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. Tera Karunakar Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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